Legal & General Mortgage Club has launched an exclusive product with Skipton Intermediaries.

The new deal offers a two-year fixed rate at 2.48% on purchases of up to 85% LTV, available for purchase deals only.

The product has no application or completion fees and includes a free standard valuation on the property. The deal is being offered on a limited tranche basis.

“Skipton continues to be very supportive towards the intermediary market, and we are delighted to offer this exclusive product to our members,” said Jeremy Duncombe, director of Legal & General Mortgage Club.

“The combination of low rate, high LTV and free valuation is sure to make this very popular. Funds are limited for this product, so we expect it to sell very quickly.”

William Gill, senior mortgage product manager at Skipton Intermediaries, added: “We’re really pleased to be able to work with Legal & General to offer this new product to the market. We have worked with the Club to create this exclusive deal that combines a very competitive interest rate with a free valuation and no application fees.”